Re: Student Loans

by **Trapper Gus** 2022-08-24, 21:56

According to Biden this is going mostly to the poors ...

by AvgMSUJoe 2022-08-24, 22:04

Trapper Gus wrote:According to Biden this is going mostly to the poors ...

pell grant and sub 125k... sure... maybe not "poors", but working people.

by **duffy munn** 2022-08-24, 23:52

Maybe somebody can help me out here because I don't understand the out rage over this. I keep hearing people say they shouldn't have to pay to cover the student loan debt being forgiven . Are taxes being increased to cover this? Like is this going to directly cost me as a taxpayer?

I don't think so.

by **Motown Spartan** 2022-08-25, 04:08

AvgMSUJoe wrote:
Trapper Gus wrote:According to Biden this is going mostly to the poors ...
pell grant and sub 125k... sure... maybe not "poors", but working people.

And I believe married couples under 250k.

by **Jake from State Farm** 2022-08-25, 07:32

More hypocrisy on display: I did't have to pay back my PPP loan but you need to pay back your student loan

Marjorie Taylor Greene's construction company received a $180,000 PPP loan from the federal government on April 10, 2020.
https://projects.propublica.org/coronavirus/bailouts/loans/taylor-commercial-inc-1932537103

"Loan Status: Forgiven."

by **Jake from State Farm** 2022-08-25, 07:34

by **Trapper Gus** 2022-08-25, 08:42

AvgMSUJoe wrote:
Trapper Gus wrote:According to Biden this is going mostly to the poors ...
pell grant and sub 125k... sure... maybe not "poors", but working people.

Read a report that this will sweep up many people who started college but never finished, who already default at a 40% rate. I'm thinking more poors than other types.

by aualum06 2022-08-25, 20:13

White house going in dry, calling out multiple politicians

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by **Other Teams Pursuing That** 2022-08-25, 22:50

Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

by **Robert J Sakimano** 2022-08-26, 05:40

duffy munn wrote:Maybe somebody can help me out here because I don't understand the out rage over this. I keep hearing people say they shouldn't have to pay to cover the student loan debt being forgiven . Are taxes being increased to cover this? Like is this going to directly cost me as a taxpayer?

I don't think so.

I don't know the details, but start with the fact that republicans whine about everything and that'll tell you all you need to know

by **kingstonlake** 2022-08-26, 06:05

Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

My Experience with that is they always reply with "They are the job providers and take all the risks."

by **duffy munn** 2022-08-26, 07:11

kingstonlake wrote:
Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

My Experience with that is they always reply with "They are the job providers and take all the risks."

And make all of the money

by **Trapper Gus** 2022-08-26, 07:34

Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

Well for sure the Pacific Railroad Act of 1862, which gave alternate 1 square mile of land along the right of way to the railroad, which was built with immigrants.

Probably before that.

Slavery had something to do with the owners attitudes

by **kingstonlake** 2022-08-26, 07:44

duffy munn wrote:
kingstonlake wrote:

My Experience with that is they always reply with "They are the job providers and take all the risks."

And make all of the money

Profit margins are protected now. You can push a button on any product to make it happen. The worker cannot push a button for a pay increase.

by **Travis of the Cosmos** 2022-08-26, 07:51

Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

I find that for most things if you just blame Reagan you’re probably right.

by **Trapper Gus** 2022-08-26, 08:29

kingstonlake wrote:
Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

My Experience with that is they always reply with "They are the job providers and take all the risks."

Of couse that stsement ignores that the labor in their companys directly creates the value that they make profits on.

by **Trapper Gus** 2022-08-26, 08:30

Travis of the Cosmos wrote:
Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

I find that for most things if you just blame Reagan you’re probably right.

Reagan was a fine TV salesman and sold the people on trickle down economics.

by Pervis Muldoon 2022-08-26, 12:30

kingstonlake wrote:
Other Teams Pursuing That wrote:Genuine question why/when/how did America turn into this turn a blind eye to tax breaks and cuts for rich and corporations but whenever individuals get something or benefit America throws a fit? are we this brainwashed to bow down to our corporate overlords?

My Experience with that is they always reply with "They are the job providers and take all the risks."

They also love to say, "If we cut the businesses' taxes, they'll create more jobs!" Which completely flies in the face of business sense, as it assumes that businesses hire nonessential labor just because they have money to spend.

by **GRR Spartan** 2022-08-27, 09:21

Pervis Muldoon wrote:
kingstonlake wrote:

My Experience with that is they always reply with "They are the job providers and take all the risks."

They also love to say, "If we cut the businesses' taxes, they'll create more jobs!" Which completely flies in the face of business sense, as it assumes that businesses hire nonessential labor just because they have money to spend.

Kingston and PM are spot on. Trickle Down has been around for over 150 years in the US. William Jennings Bryan’s Cross of Gold speech was critical of the practice and it was a there when Republicans use it to criticize FDR’s New Deal.

Reagan and his acolytes revived and started spreading the now disproven economic theory and it’s only accelerated by GOP since.

My opinion the bottom line is the when the top 1% control the narrative there is never a bad time to cut taxes.

Economic times are good? CUT TAXES!
Economic times are bad? CUT TAXES!

The only time Republicans are concerned about deficits are when there isn’t a Republican in The White House.

by **Trapper Gus** 2022-08-30, 12:23

GRR Spartan wrote:
Pervis Muldoon wrote:

They also love to say, "If we cut the businesses' taxes, they'll create more jobs!" Which completely flies in the face of business sense, as it assumes that businesses hire nonessential labor just because they have money to spend.

Kingston and PM are spot on. Trickle Down has been around for over 150 years in the US. William Jennings Bryan’s Cross of Gold speech was critical of the practice and it was a there when Republicans use it to criticize FDR’s New Deal.

Reagan and his acolytes revived and started spreading the now disproven economic theory and it’s only accelerated by GOP since.

My opinion the bottom line is the when the top 1% control the narrative there is never a bad time to cut taxes.

Economic times are good? CUT TAXES!
Economic times are bad? CUT TAXES!

The only time Republicans are concerned about deficits are when there isn’t a Republican in The White House.

Republicans see anything done for the common good as "free stuff" even though everyone knows it is paid for via taxes.

They also believe "private business" could do it cheaper and better even though they have created a culture of private business focued on profits, not providing goods and services.

Seriously, free markets are a cult, too.

by AvgMSUJoe 2022-08-30, 17:12

"Private business" cheaper and better, but deathly afraid of govt as competition.

by **Trapper Gus** 2022-09-14, 12:37

https://www.businessinsider.com/princeton-cover-all-tuition-families-making-under-100k-student-loans-2022-9

by **Trapper Gus** 2022-09-26, 08:33

https://apnews.com/article/how-to-get-student-loan-refund-if-you-paid-during-pandemic-ac42ffdca1d37d1fe8d1d63f6faeaa6f

by **kingstonlake** 2022-09-28, 15:37

Big Gretch makin it happen! Congrats to anyone who got a little debt relief. Happy for ya.

[tw]1575189901032583174?s=46&t=uq2NexO1ISdKVUIF76RvPA[/tw]

by AvgMSUJoe 2022-09-28, 20:37

Btw, for any shithead blaming student debt or other real human spending for all the world's evils... today nexteer got 25 million to save the plant in Saginaw... plus an additional 2 million in future tax abatements.

by **Trapper Gus** 2022-09-29, 12:11

https://washingtonmonthly.com/2022/09/28/the-republicans-are-coming-after-bidens-student-debt-relief-plan/

Yet some commentators, including the progressive law professor Jed Shugerman, predict that the administration will struggle to offer a good-faith legal argument connecting the student debt plan to the COVID-19 national emergency, as the law requires. We disagree.

The onset of the pandemic left Americans in deep financial insecurity. As a result, Congress authorized three rounds of stimulus checks—two during the Trump administration—which phased out for individuals at $99,000, $87,000, and $80,000. Given that these thresholds echo the debt plan’s $125,000 eligibility cap, President Joe Biden’s program targets the same groups of people Congress believed were most impacted by the pandemic.

The loan forgiveness plan is predicated on the period of financial distress that overlaps with the worst of the pandemic. Individuals can qualify for forgiveness based on their 2020 or 2021 incomes, when the pandemic’s employment distortions peaked. Indeed, COVID disruptions continue to bedevil Americans’ finances, and in 2022, inflation has eroded purchasing power further. Debt relief, which Goldman Sachs predicts will have a marginal inflationary effect, is a logical and legally consistent means of relieving the borrowers’ budgets as they cope with the pandemic’s ongoing economic repercussions.

That the plan furthers the Biden administration’s larger policy ambitions doesn’t render the program’s purpose spurious, as Shugerman suggests. So long as the Department of Education offers a well-reasoned justification for its policy on pandemic grounds, the administration is free to tout the initiative as part of its larger goals.

by **Trapper Gus** 2022-09-30, 08:34

Opps ... Indiana man suing to invalidate load forgiveness gets his wish ... his loan will not be forgiven. lol

United States District Court Judge Richard L. Young on Thursday declined to block the Biden administration's student debt forgiveness plan.

The lawsuit was filed on Tuesday by Frank Garrison, an Indiana attorney who works for the Pacific Legal Foundation. Garrison said he did not want $20,000 worth of forgiven debt because he would have to pay more than $1,000 in Indiana state taxes.

One day later, on Wednesday, the U.S. Department of Education responded, saying Garrison would not suffer irreparable harm.

"Upon receiving this lawsuit and reviewing Plaintiff’s filings, the Department has already taken steps to effectuate Plaintiff’s clearly stated desire to opt out of the program and not receive $20,000 in automatic cancellation of his federal student loan debt, and so notified Plaintiff’s counsel today," the Department of Education responded.

On Thursday, Judge Young agreed in an order denying a temporary restraining order, writing, "The court, in view of the fact the Department of Education exempted Plaintiff from receiving debt relief, finds Plaintiff cannot be irreparably harmed as is required for preliminary relief."

https://www.msn.com/en-us/news/crime/big-lawsuit-against-biden-s-student-debt-cancellation-gets-shot-down-in-less-than-a-week/ar-AA12pGe9?ocid=msedgntp&cvid=9b786623c50e4f9e9522d1276bf01ec2

by **kingstonlake** 2022-10-12, 15:40

Nice!!

[tw]1580032371482537985?s=46&t=S7h9tgrHh-ynNErWbFO66g[/tw]

by **Jake from State Farm** 2022-10-12, 16:55

Trapper Gus wrote:Opps ... Indiana man suing to invalidate load forgiveness gets his wish ... his loan will not be forgiven. lol

United States District Court Judge Richard L. Young on Thursday declined to block the Biden administration's student debt forgiveness plan.

The lawsuit was filed on Tuesday by Frank Garrison, an Indiana attorney who works for the Pacific Legal Foundation. Garrison said he did not want $20,000 worth of forgiven debt because he would have to pay more than $1,000 in Indiana state taxes.

One day later, on Wednesday, the U.S. Department of Education responded, saying Garrison would not suffer irreparable harm.

"Upon receiving this lawsuit and reviewing Plaintiff’s filings, the Department has already taken steps to effectuate Plaintiff’s clearly stated desire to opt out of the program and not receive $20,000 in automatic cancellation of his federal student loan debt, and so notified Plaintiff’s counsel today," the Department of Education responded.

On Thursday, Judge Young agreed in an order denying a temporary restraining order, writing, "The court, in view of the fact the Department of Education exempted Plaintiff from receiving debt relief, finds Plaintiff cannot be irreparably harmed as is required for preliminary relief."

https://www.msn.com/en-us/news/crime/big-lawsuit-against-biden-s-student-debt-cancellation-gets-shot-down-in-less-than-a-week/ar-AA12pGe9?ocid=msedgntp&cvid=9b786623c50e4f9e9522d1276bf01ec2

Hopefully he also gets a nice bill from his attorney.

by **Trapper Gus** 2022-10-15, 10:46

Good Morning Campers

The Bata version of the Government's application for student loan relief is up and running, follow the link.

It takes about 90 seconds, I'm told, and requires nothing more than your name and social security number.

https://studentaid.gov/debt-relief/application

by **Travis of the Cosmos** 2022-10-15, 11:28

Huh. It asked me if I want to take my $10,000 directly out of funds that would otherwise go to Pennsylvania. Odd, but I said yes please

by **kingstonlake** 2022-10-15, 11:59

Travis of the Cosmos wrote:Huh. It asked me if I want to take my $10,000 directly out of funds that would otherwise go to Pennsylvania. Odd, but I said yes please

by aualum06 2022-10-16, 11:20

Trapper Gus wrote:Good Morning Campers

The Bata version of the Government's application for student loan relief is up and running, follow the link.

It takes about 90 seconds, I'm told, and requires nothing more than your name and social security number.

https://studentaid.gov/debt-relief/application

Thank you for the link

by **Trapper Gus** 2022-10-17, 17:18

Its beta no longer!

https://apnews.com/article/student-loan-forgiveness-application-ea79c56a5072976067a94436b4fc9a45?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_04

AP wrote:The number of borrowers who applied during the testing period already amounts to more than one-fourth of the total number of applicants the administration had projected would submit forms, underscoring the popularity of the program and the eagerness of borrowers to receive the debt relief. Some 8 million borrowers who have income information already on file with the Education Department would see their debt canceled without applying.

by **Trapper Gus** 2022-10-21, 17:59

https://www.axios.com/2022/10/21/student-debt-relief-live-website-biden-plan

almost 22 million have applied

by **Trapper Gus** 2022-11-13, 09:59

Putting this conversation back in the thread it should be in, trying to rein Penn back under control with his polluting of threads with off topic posts...

The plaintiffs in the case in which the out-of-control conservative douchbag judge ruled they had standing have standing according to said judge, because they have loans which were not forgiven by the EO. What a fucked-up ruling.

Brown didn’t like that she didn’t qualify for forgiveness because her loans were through private lenders and not the government, while Taylor wasn’t happy that he could only qualify for $10,000 and not $20,000 in relief as he didn’t receive a Pell Grant.

https://www.buzzfeednews.com/article/davidmack/biden-student-debt-forgiveness-questions

by PennSpartan 2022-11-14, 11:54

https://www.yahoo.com/finance/m/0bd7d5f6-6ee5-33bb-a38c-5c68c8124937/student-loan-cancellation-in.html
Student Loans - Page 3 1550444538

by **Trapper Gus** 2022-11-14, 12:02

PennSpartan wrote:https://www.yahoo.com/finance/m/0bd7d5f6-6ee5-33bb-a38c-5c68c8124937/student-loan-cancellation-in.html

Not undestanding why you are spinning, as this was totally expected. Everyone knew the Republicians would go "judge shopping" in TX, since there are a bunch of conservative judges there who think they are President of the US.

by **kingstonlake** 2022-11-14, 12:10

Can’t we just pretend that student debt relief was actually for Wall Street and banks?

That way Penn would be happy. I mean he supported it because that bailout personally benefitted him….

by **Trapper Gus** 2022-11-15, 06:32

Conservative federal judges are finding pretty far out rules for "standing"

A. If an enity was relying on current regulations for income then if the regulations are changed so future income is changed, that is standing.

B. If by changing the regulation people who don't have the loan types or othet qualifications to have their loans forgiven that is standing.

These "theories" of standing pretty much would mean that the government can be sued for every law it creates.

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